Internet Travel Monitor - Marketing, Research & Tech

December 13, 2017

B2Bs Counting on Digital

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According to a report from CloudCraze on Why Digital Will Become the Primary Channel for B2B Engagement, though Amazon often gets the credit for revolutionizing modern commerce, a recent Atlantic article points out that the retail behemoth wasn’t the first company to completely flip the narrative on buying and selling goods.

Growth is fueled by digital Today’s B2B organizations are counting on digital to move the needle. While traditional systems have been helpful for building face-to-face relationships, B2B organizations recognize that digital channels provide new opportunities to be proactive about customer needs. 89% of the B2B business decision makers attribute expected business growth to their digital programs’ ability to attract and retain customers, and increase average order value.

B2C experiences set new expectations for B2B Business buyers’ eagerness to shift online is likely a product of digital proliferation in the B2C world. Customers now expect the self-service, faster responses and more personalized interactions they get in their personal lives. As a result, companies at the forefront of the digital revolution have made significant updates to their ordering systems, creating key features that have emerged as value-adds for both business buyers and B2B organizations.

Digital reshapes the landscape for sales and service teams Given that most digital commerce programs have increased self-service capabilities, many businesses expect to cut service costs once a site is up and running. When more customers can self-serve, sales staff are no longer required to facilitate transactions. But a reduction in sales staff is not always the byproduct of an effective commerce platform. In fact, 60% of those surveyed reported that the growth of digital has caused their sales team to grow in tandem.

Positive stakeholder perceptions will drive an upswing in digital commerce Overall, the findings indicate that B2B organizations see the value that going online offers their customers and business. Although going online requires internal and external changes, 24% believe digital transformation is crucial for businesses looking to maximize sales. 34% of decision makers also report that digital transformation is important for keeping pace with, and 29% outpacing, competitors.

Key fndings and summation:

BUSINESSES UNDERSTAND THE VALUE OF B2B COMMERCE:

  • B2B decision makers believe customer retention (56%) is the biggest value digital brings to their business, followed by customer acquisition (54%)

DIGITAL COMMERCE STREAMLINES COMPLEX B2B CUSTOMER NEEDS:

  • B2B decision makers say the biggest value digital brings to their customers is tailored product oferings (52%), followed by order automation (48%)

DIGITAL IS NO LONGER VIEWED AS AN AUXILIARY CHANNEL BY BUSINESS LEADERS:

  • 88% of B2B decision makers anticipate offering products in the next five years that will be primarily sold online

BUSINESSES ATTRIBUTE GROWTH TO THEIR DIGITAL PROGRAMS:

  • 89% of B2B decision makers attribute expected business growth to the success of digital commerce

CHANGING CUSTOMER EXPECTATIONS DRIVE DIGITAL TRANSFORMATION:

  • More than half (52%) of B2B decision makers believe their customers are eager to adopt new technologies and processes


Copyright 2017 Skift. All rights reserved. From http://www.skift.com. By Rebecca Stone, Skift Research.
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